Russia has moved Saudi Arabia into China’s oil market

In May 2022, Russia exported 55% more oil to China than in May last year and became Beijing’s largest supplier, surpassing Saudi Arabia, Reuters reported on June 20. According to China’s General Customs Administration (quoted by Reuters), Russian oil imports, including supplies through the Eastern Siberia-Pacific Ocean (ESDP) pipeline and shipping from European and Far…

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OPEC + is forcing the increase in oil production

Following the ministerial meeting of the members of the agreement, the parties to the OPEC + deal decided to increase the quota for oil production for July and August 2022 to 648,000 barrels per day (bpd) per month. The previous plan provided for a monthly increase from May to September inclusive of 432,000 bpm per…

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Gazprom’s deliveries abroad fell by almost a third

Gazprom’s exports to foreign countries in the five months of 2022 decreased by 27.6% compared to the same period last year and amounted to 61 billion cubic meters. m of gas, the company said on June 1. As a result, in January-May it reduced production to 211.4 billion cubic meters. m, which is 4.8% (or…

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Shell has left the joint venture with Gazprom Neft in Gidan

The British-Dutch oil and gas company Royal Dutch Shell has withdrawn from the authorized capital of the joint venture with Gazprom Neft, Gidan Energy. According to an extract from the Unified State Register of Legal Entities, Gazprom Neft has been the sole owner of the joint venture since May 19. Vedomosti sent a request to…

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Poland has given up Russian gas ahead of schedule

The Polish authorities have decided to terminate the contract for the supply of Russian pipeline gas to the country, which could continue until the end of 2022, said on May 23 the representative of the government’s strategic energy infrastructure Peter Naimsky on Polish Radio. “After 30 years, we can say that relations in the gas…

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Why Lukoil buys Shell gas stations in Russia

Lukoil will buy the Russian “daughter” of the British-Dutch oil and gas company Shell, which owns a refueling network and a lubricant plant in the country, the company said. We are talking about 411 gas stations located mainly in the Central and North-Western federal districts, as well as a plant for the production of lubricants…

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Gazprom reported record profits for the fourth quarter and the whole of 2021

In 2021, Gazprom earned 2.09 trillion rubles. net profit under IFRS against 135 billion rubles. a year earlier. The company announced this on April 28. The monopoly’s revenue increased by 62% and reached 10.24 trillion rubles, EBITDA increased 1.5 times during the reporting period to 3.69 trillion rubles. Net revenue from gas sales increased by…

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The European Union may impose a ceiling on the price of Russian oil

The EU may impose a marginal price on imported Russian oil to cut Russia’s revenues, the Financial Times (FT) reported, citing its own source. Such a measure is being considered in the preparation of the next (sixth) package of sanctions against Russia due to a special military operation in Ukraine. Valdis Dombrovskis, vice-president of the…

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The IEA predicts a decline in oil production in Russia in the coming months

Sanctions due to a special military operation in Ukraine may lead to a decrease in oil production in Russia in April 2022 by 1.5 million barrels per day (bpd) compared to the previous month. This forecast is given by the International Energy Agency (IEA) in a monthly review published on April 13. According to the…

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IEA expects oil production in Russia to fall by 30%

Due to Russia’s special military operation in Ukraine and related disruptions in oil supplies, global demand for oil in 2022 will increase by only 2.1 million barrels per day (bpd), according to a March report by the International Energy Agency ( IEA). In February, the IEA expected demand to grow by 3.2 million bpd. Global…

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Gasoline is becoming more expensive in Europe due to the energy crisis and geopolitics

In European countries in January-February 2022, retail gasoline prices rose by an average of almost 7%. According to the platform fuelo.net, in just two months (as of March 1) the cost of a liter of AI-95 at gas stations rose in Romania – by 14.2% to 1.41 euros. The highest prices were recorded in the…

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Oil, gas and other commodities are becoming more expensive

World commodity prices, including oil and gas, accelerated on February 24 amid Russia’s special military operation in Donbass and Ukraine. The price of Brent North Sea crude oil rose by 8.3% to the previous day’s trading session, to $ 104.8 per barrel – for the first time since mid-August 2014, according to ICE. US WTI…

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Ukraine is complaining to an American court about the threat of war with Russia

Ukraine has appealed to the Federal Court of the Southern District of New York (USA) to deny Tatneft a lawsuit against representatives of 52 banks as part of a recovery in favor of the oil company $ 173 million for the loss of a stake in Kremenchug refinery, according to Bloomberg. Citigroup Inc., JPMorgan Chase…

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BP receives quarterly profit of $ 555 million from participation in Rosneft’s capital

BP estimates the pre-tax profit and interest income for the fourth quarter of 2021 from its shareholding in Rosneft at $ 555 million, according to a report by the British oil and gas company published on February 8. In the third quarter of 2021, BP’s profit from participation in the Russian company’s capital amounted to…

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Power engineers want to turn off the light to the “gray” miners

The Association of Guaranteeing Suppliers and Energy Sales Companies (SOEs and ESCs) has proposed allowing power engineers to disconnect illegal cryptocurrency miners from power. Such a letter was sent on February 2 to the State Duma Committee on Energy and was later published on the organization’s website. In the document, the head of the association…

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Gazprom demanded that Poles share $ 430 million

Gazprom has filed a lawsuit against the Polish state oil and gas company PGNiG. The Polish company announced this on February 2, the information was confirmed to Vedomosti by Gazprom. The lawsuit was filed in accordance with UNCITRAL regulations, the UN Commission on International Trade Law. It has been in operation since 1976 and is…

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How oil-producing countries are violating the OPEC + agreement

The participants of the ministerial meeting of the OPEC + member states on February 2 decided to increase production by another 400,000 barrels per day (b / c) in March, Interfax reported. This increase in production within the parameters of the OPEC + transaction should occur on a monthly basis. But in January 2022, the…

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Why did Rosatom buy Quadra from Mikhail Prokhorov?

A member of the Rosatom company “Rusatom Infrastructure Solutions” (RIR) bought in the group “Onexim” Mikhail Prokhorov power company “Quadro”, said “Rosatom” on January 31. On Monday, the sides signed an agreement for the sale of 82.47% stake in the generating company. The transaction amount was not disclosed. “After the transition to the structure of…

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Why A-Property attracts Chinese to Yakutsk gas project

Albert Avdolyan-owned A-Property has agreed with the Chinese company Zhejiang Energy International Limited (ZEIL, a subsidiary of the state corporation Zhejiang Energy Group) to sell 10% in the companies of the Yakut Gas Project. This was announced on January 19 by YATSEK. We are talking about the Yakutsk Fuel and Energy Company (YATEK) and Globaltech.…

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Why Moldova cannot pay for Russian gas

The Moldovan government has again asked Gazprom to postpone the advance payment for January gas supplies, Deputy Prime Minister and Minister of Infrastructure and Regional Development Andrei Spinu told a news conference on January 11. “Yesterday I had a conversation with [председателем правления «Газпрома» Алексеем] “Miller, during which we tried to agree on the possibility…

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Gazprom wants to build a third skyscraper in St. Petersburg

Gazprom is discussing with the St. Petersburg authorities the possibility of building a third 555-meter-high skyscraper in Lahti (Primorsky District of the city), where its headquarters are now located. This follows from a company announcement posted on its official website. It also says that the total area of ​​†‹вЂ‹ the facility may be about…

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Gas prices in Europe have fallen sharply due to expectations of additional LNG consignments

Spot gas prices in Europe on December 24 fell by 18.5% to the previous day, according to the ICE exchange. At the most liquid European hub TTF in the Netherlands, January futures on Friday fell to $ 1250 per 1,000 cubic meters. m (at 18.23 Moscow time – $ 1281), on the eve of trading…

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Novak explained why the price of oil in 2022 will remain stable.

Deputy Prime Minister Alexander Novak believes that sharp fluctuations in oil prices in 2022 should not be expected. The price of a barrel, according to his estimates, will remain at about $ 75. “Overall, the current levels we see today are quite stable – that is $ 75 per barrel, plus or minus 10%. It…

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Why Ulan-Ude almost ran out of heat

On December 23, the authorities of Buryatia declared a state-of-the-art emergency regime after a fire at CHP-1 with a capacity of 136 MW in Ulan-Ude. This was reported by the press service of the regional government. The fire wiring as a result of a short circuit occurred around 3.30 local time and was put out…

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Putin explained the reasons for rising gas prices in Europe

Gazprom is not booking the transit capacity of the Yamal-Europe gas pipeline due to the lack of applications for gas from European consumers. This was stated by Russian President Vladimir Putin at the final press conference on December 23. “Because he (” Gazprom “-” Vedomosti “) did not book this traffic, because those of his…

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Russia has broken the absolute record of power plant load

Russia set an absolute record for power consumption in the country’s Unified Energy System (UES) on December 22, the Energy Ministry said. According to the agency, this figure reached 159.48 GW on Wednesday. This is 2 GW higher than the previous record set in 2012 – 157.43 GW. According to the UES System Operator (CO,…

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Due to which increased oil and gas production in Russia in 2021

According to the results of 2021, oil production in Russia will be about 517 million tons, gas – about 740 billion cubic meters. m. This was announced December 22 at a briefing by Minister of Natural Resources and Ecology Alexander Kozlov. In 2020, the country, according to the Ministry of Environment, produced 50.56 million tons…

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The Ministry of Environment will start issuing CO2 burial licenses in 2022

From January 1, 2022, the Ministry of Environment will begin issuing licenses for the creation of storage facilities for greenhouse gases. This was announced at a briefing on December 22 by Minister Alexander Kozlov. “We have worked out a mechanism for providing subsoil areas for the use of greenhouse gases,” he said. He stressed that…

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Gas prices in Europe reached $ 2,200 per 1,000 cubic meters

Due to the intensifying energy crisis, Europe is becoming a more attractive market for gas suppliers than Asia. Traditionally, the gas market is referred to as the “Asian premium”, ie situations where the supply of liquefied natural gas (LNG) to China, Japan and other Far Eastern countries is more profitable due to higher prices in…

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Rosneft has adopted a green strategy until 2030

Rosneft’s board of directors has approved the company’s development strategy until 2030. The document provides for a reduction in the carbon footprint. According to Igor Sechin, the company’s chief executive officer, the new strategy will help more than double the free cash flow (FCF) by 2030 and ensure a steady rise in the company’s value…

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Gas prices in Europe are as high as $ 2,000 per 1,000 cubic meters

Spot gas prices in Europe on the morning of December 20 briefly exceeded the mark of $ 1766 per 1,000 cubic meters. m. We are talking about January futures quotes on the Dutch hub TTF. Compared to Friday, the increase was about $ 140 per 1,000 cubic meters. m, according to the ICE exchange. Later,…

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Leonid Fyadun predicted a dramatic rise in oil prices

Oil consumption will be stable until 2030, followed by a sharp decline in consumption in Europe, and from 2035 also in China and the United States. This was stated by Vice President of Lukoil Leonid Fyadun on Friday at a presentation of prospects for global energy development until 2050. But current oil projects, according to…

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Europe has come to terms with high gas prices for another six months

The period of high gas prices in Europe will probably last until the summer of next year. In April 2022, when the heating season in Europe ends and gas is pumped into underground storage facilities (UGS), prices will not fall below $ 1,000 per 1,000 cubic meters. m, according to Director of Research Vygon Consulting…

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Gas prices are going up due to politics, shortages and cold spells

Spot prices (January futures) for gas in Europe on December 13 rose to $ 1380 per 1,000 cubic meters. m, which was a record increase since October 5. At the same time on December 10, according to the ICE exchange, the Dutch hub TTF futures cost about $ 1255 per 1,000 cubic meters. m. High…

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Lukoil failed to get a blockchain in the Shah Deniz project

Lukoil will reduce its stake in the Azerbaijani Shah Deniz project in the Malaysian company Petronas, the Russian company said. It will fall from the previously stated 15.5% to 9.99%, and the deal amount from $ 2.25 billion to $ 1.45 billion respectively. Its closure is expected in January 2022. “The signing of these changes…

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Why Poland is campaigning for a new antitrust investigation against Gazprom

The European Commission (EC) needs to initiate a new antitrust case against Gazprom. “There are a lot of tools in the antitrust investigation, the EC is well able to do it,” she said. Moscow added that Poland does not understand why the EC has not yet seen these grounds. She also stressed that Warsaw sent…

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“T Plus” has decided to increase debts and dividends

Energy company “T Plus” will adjust the long-term strategy until 2032 adopted in 2019, laying in it the ability to stably pay dividends, told reporters on December 9, its CEO Andrei Wagner. “The old strategy from 2023 assumed zeros until 2032 – when it was impossible to pay dividends. Due to qualitative changes [в стратегии]…

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Why oil prices are not infected with “amicran”

Oil prices have shown steady growth since December 2, when OPEC + member countries decided to maintain a monthly increase in production of 400,000 barrels per day, according to ICE. On December 2, after a ministerial meeting of OPEC + a barrel of Brent oil with delivery in February cost $ 69. On December 7,…

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Oil prices rise on news of compliance with OPEC + agreements

Oil prices are rising after a meeting of ministers of OPEC + countries on December 2, which decided not to change the rate of increase in oil production in January 2022. According to the ICE exchange, the reference mark Brent fell on Thursday morning until 17:00 Moscow time quotes fell to $ 66 per barrel…

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Russia’s CEO has left Russia’s largest solar company

Igor Shahrai, CEO of Hevel, Russia’s largest solar power plant operator, has left the company, an acquaintance of his told Vedomosti and confirmed a representative of Hevel. “That’s right, he no longer works for the company,” he said, declining to comment further. A spokesman for Vedomosti, close to the company, says a new CEO has…

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“We have no problem funding gasification programs”

“The free gasification program will change the quality of life of Russians,” Russian President Vladimir Putin said in July. Its first stage – gasification of houses in gas-supplied settlements – should be completed in the next two years. During this time, according to Gazprom Interregionalgaz, 3,200,000 households will be connected to the gas. The maximum…

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Will the repayment of debts to Gazprom solve Moldova’s problems

Moldovagaz has paid Gazprom for natural gas consumed in October and the first half of November this year, the Moldovan company said on November 26. Gazprom spokesman Sergei Kupriyanov also confirmed to Vedomosti that the company had received funds for current supplies. “The problem is fixed,” he said. It was about $ 74 million. Earlier…

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How the printout of US strategic oil reserves will affect the market

The price of oil is rising on news of the printout of US strategic reserves and their allies. A barrel of the reference brand Brent at 18.00 Moscow time on November 23 traded at $ 80.8 (up 1.4% from the previous trading session), Texas WTI – at $ 78.2 (up 1.8%), according to ICE. On…

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Chisinau to study failure of Gazprom’s payments under new contract

On November 22, Gazprom spokesman Sergei Kupriyanov told reporters that the Moldovan side had failed to fulfill its contractual obligations to pay for current gas supplies. “The next deadline for current payments is November 22 this year. In this regard, Gazprom informed the Moldovan side in accordance with the contract that gas supplies to Moldova…

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The government will distribute landfills to oil service companies

The state will give the owners of drilling rigs in the oil and gas sector a so-called recycling grant, through which they will be able to reimburse part of the cost of purchasing new equipment. The relevant resolution was signed by Prime Minister Mikhail Mishustin, the document is published on the government’s website. It is…

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Serbia hopes to sign a ten-year contract for 3 billion cubic meters of gas a year

Belgrade is considering concluding a ten-year contract with Gazprom, under which Serbia will buy 3 billion cubic meters from Russia annually. m of gas. This was announced on November 17 by Serbian President Alexander Vucic on Happy TV. “We will now ask President (Russian Vladimir) Putin to give us at least 3 billion cubic meters.…

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Belarus has cut off oil to Europe instead of gas

The Belarusian operator of the Druzhba oil pipeline, Gomeltransneft, has restricted oil supplies to Poland for three days, Russian Transneft spokesman Igor Demin said on November 17. He clarified that the stop was connected with unscheduled repairs on one of the branches of the oil pipeline in Belarus, which is being supplied to the Adamow…

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Gas prices rise in Europe amid suspension of Nord Stream 2 certification

Spot gas prices in Europe rose on November 16 amid a statement by the German regulator Bundesnetzagentur (Federal Network Agency) on the temporary suspension of the certification of Nord Stream 2 AG as an independent operator of the Nord Stream-2 pipeline. According to the ICE exchange, at 15:00 Moscow time on the Dutch hub TTF…

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Rosneft’s financial results for the first nine months of 2021 exceeded analysts’ expectations

Rosneft’s net profit for the first nine months of 2021 amounted to 696 billion rubles, which is 4.6 times more than for the whole of 2020, according to the company’s report on IFRS for the third quarter. In addition, compared to the II quarter, net income increased by 35% to 314 billion rubles. ($ 4.3…

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What threatens Belarus to block the Russian gas pipeline to the EU

The threats of the President of Belarus Alexander Lukashenko to block the Yamal-Europe gas pipeline in the event of the closure of the borders between his country and Poland and Lithuania, which are members of the EU, have already provoked a backlash in the EU. “In terms of gas supplies, we must make the most…

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Rosneft receives about 60 proposals from abroad on cooperation in the East Oil project

Rosneft held a series of road shows of the East Oil project for foreign suppliers and contractors, the company said on November 9. They were attended by large companies, including engineering, from 15 countries in Europe, Asia and the Middle East. Representatives of embassies, relevant departments and business associations also attended the meetings. “More than…

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Gazprom’s promise to pump gas into European storage facilities has cooled the market

On November 9, before 19.00 Moscow time, the price of December gas futures at the largest TTF hub in the Netherlands was $ 906 per 1,000 cubic meters. m, i.e. 5.5% below the price of the previous trading session. On that day, Gazprom announced that it had “approved and launched a plan to inject gas…

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In Kiev, believe that Russia does not allow Kazakh coal to Ukraine

On November 4, the head of the Verkhovna Rada Committee on Energy and Housing Andrei Gerus said on social media that Russia was preventing the transit of coal from Kazakhstan to Ukraine. “Technically, the blocking is at the level of Russian Railways, which does not confirm the passage of cars with such coal,” he said.…

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What to expect from tomorrow’s OPEC + meeting

The meeting of the OPEC + member states scheduled for November 4, which will determine the further parameters of the deal to limit oil production, should not come as a surprise, analysts interviewed by Vedomosti say. “The parties to the deal have clearly spoken out in support of the current plan to gradually increase production…

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Can oil reach $ 120 a barrel in 2022?

Oil in 2022 could reach $ 120 per barrel, analysts at Bank of America. The reason for this in the bank called the energy crisis and growth in all energy sources, including gas and coal. This is one of the most radical “bullish” forecasts for oil prices in recent months. The bank’s statement came amid…

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Serbia and Hungary were temporarily left without Russian gas

Gas supplies to Romania, Serbia and Hungary via Bulgaria were suspended on November 1st due to an accident on the Bulgarian section of the Balkan Stream gas pipeline. The emergency, which violated the integrity of the pipeline, occurred at about 04.00 Moscow time in the village of Vetrina in the northeastern part of the country,…

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Moldova has persuaded Gazprom to tie the contract to oil

On October 29, Moldovan Moldovan and Russia’s Gazprom signed a new five-year agreement to supply Russian gas to Moldova. According to Deputy Prime Minister of Moldova Andrei Spinu on social networks, deliveries will start on November 1. “The talks included many rounds of discussions, in various formats – both with Gazprom in St. Petersburg and…

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Polish PGNiG asks Gazprom to reduce gas prices

The Polish gas monopoly PGNiG has sent an application to Gazprom to review pricing under the so-called Yamal contract. It was concluded in 1996 until December 31, 2022, provides for pumping an average of 10 billion cubic meters. m of gas per year. PGNiG head Pavel Maewski explained that the Polish company was asking Gazprom…

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Moldova is looking for an alternative to Gazprom.

On October 27, the Moldovan state-owned company Energocom announced a third tender for the purchase of 1.5 million cubic meters. m of gas, according to documentation on the company’s website. Until the winner was selected. Delivery time – October 28, checkpoints – “Alekseevka” (Ukraine), “Todiresti” (Romania) or Moldovan Tagatina or Causani. Earlier, on October 25…

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Kazakh miners are offered to pay for electricity from Russia

Inter RAO wants to export electricity to Kazakhstan, Alexander Panin, head of the trading unit and member of the board of Inter RAO (electricity export-import operator), told journalists. According to her, the possibility of commercial supply to this country in November-December 2021 is being discussed for the first time. The energy systems of Russia and…

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